Alleged Money Laundering: Court Strikes Out Maina’s Bail Application

A Federal High Court in Abuja has struck out the bail variation application filed by a former chairman of the Pension Reform Task Team, Abdulrasheed Maina.

The Economic and Financial Crimes Commission (EFCC) is prosecuting Maina and others over charges bordering on money laundering.

Justice Okon Abang , who presided over the matter on Wednesday, dismissed the application due to the applicant’s inability to meet the bail terms.

“The 1st defendant failed to place materials before the court with, convincing reasons, to show that there exist exceptional circumstances to warrant the variation of the conditions of the bail earlier varied.

“The application filed by the 1st defendant lacks merit and is accordingly dismissed,” the judge said.

Recall that Justice Abang had on January 28, further varied Maina’s bail conditions by changing his bail sum of 1 billion naira to N500 million and the number of sureties to one, which must be either a Senator or member of House of Representative or a Director in the Federal Civil Service.

But the lawyer representing Abdulrasheed Maina at the Federal High Court, Abuja, had told the court to further reduce the bail conditions no senator was prepared to stand as surety for him.